Wesfarmers confirms that it has today sold all of its remaining interest (2.8 percent) in Coles Group Limited (Coles).
Since the demerger of Coles from Wesfarmers in November 2018, Wesfarmers has gradually reduced its shareholding in Coles. Wesfarmers and Coles continue the Flybuys joint venture, with both groups retaining a 50 per cent interest in Flybuys.
According to Reuters, the deal value is estimated at $688 million or $18.50 per share.
